Find the interest and the amount on:

₹ 4,000 in $1\dfrac{1}{3}$ years at 2 paise per rupee per month.

Given:

P = ₹ 4,000

R = 2 paise per rupee per month

= $\dfrac{2}{100}$ per month

= $\dfrac{2}{100} \times 12$ per annum

= $\dfrac{24}{100}$ per annum

= 24% per annum

T = $\Big(1\dfrac{1}{3}\Big)$ years

= $\Big(\dfrac{4}{3}\Big)$ years

$\because \text{S.I.} = ₹ \Big(\dfrac{P \times R \times T}{100}\Big)\\[1em] \Rightarrow \text{S.I.} = ₹ \Big(\dfrac{4,000 \times 24 \times 4}{3 \times 100}\Big)\\[1em] \Rightarrow \text{S.I.} = ₹ \dfrac{3,84,000}{300}\\[1em] \Rightarrow \text{S.I.} = ₹ 1,280 \\[2em] \because \text{A = P + S.I.}\\[1em] \Rightarrow \text{A = ₹ 4,000 + ₹ 1,280}\\[1em] \Rightarrow \text{A = ₹ 5,280}\\[1em]$

Hence, S.I. = ₹ 1,280 and Amount = ₹ 5,280.